Prediction that ETH would trace back to local support has proven to be accurate, as ETH is now trading around the $2700 range. At time of writing, ETH is just below this at $2680, where it has begun consolidating after yesterday’s crash.
ETH looks bearish on all time frames, with a slight bounce or consolidation likely on the 4H chart. Daily and weekly look very bearish, and a retrace to lower support levels is likely in the coming weeks. This is in line with BTC and other traditional markets, which have all been suffering as the world attempts to rein in spiraling inflation. These next few months will likely be painful, but will present good buying opportunities along the way.
Take a look at the [full eth analysis](https://t.me/midas_announcements/617) with charts.
**Support Zones:**
* $2.7k
* $2.5k
* $2.2k
**Resistance Zones**
* $2.9k
* $3.1k
* $3.4k